Bitcoin SV plummets after court ruling against fake Satoshi Nakamoto

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A judge has ruled, based on “overwhelming evidence,” that computer scientist Craig S. Wright (CSW) is not Satoshi Nakamoto, creator of Bitcoin.

«CZW is not the author of the technical document; CSW is not Satoshi; CSW is not the creator of Bitcoin; “CSW was not the author of the Bitcoin software,” said Judge James Mellor, as CriptoNoticias reported this morning.

There are still appeals that the defense could use to try to show that the court ruling is wrong. It is worth clarifying that being Satoshi Nakamoto is something easily demonstrable: It is enough to sign a transaction in one of the addresses that, as has been identified, belonged to the creator of Bitcoin, something that Wright was never able to do.

After hearing Judge Mellor’s verdict, a cryptocurrency crashed and, at least at the time of this publication, is failing to recover. This is bitcoin SV (BSV), a fork of bitcoin cash (BCH), which in turn is a fork of the original bitcoin (BTC).

The following TradingView chart shows the price movement of bitcoin SV over the last week:

Bitcoin SV price in the last 7 days. Source: TradingView.

The drop after the court ruling is close to 10% until the time of this publication.

The reason for the collapse of bitcoin SV is that Wright is the main promoter of this cryptocurrency, which he promotes saying that it is the real Bitcoin. His influence on the project and the Bitcoin SV community is significant, which is why news related to Wright often affects the price of this alternative cryptocurrency.

Even BSV proponents acknowledge that this has been a blow to their favorite cryptocurrency.

From the X BSVbosses account they wrote «If Craig had won, BSV could have been in 5 digits right now. Nobody is happy with this verdict. Clearly, Craig has not lived up to many of the things he has said over the years.

Even so, this X account says that it will continue to defend BSV because it considers it “the best technology.”

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